CourseLover

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About CourseLover

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 286 Weeks Ago, 1 Day Ago
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Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 09 Dec 2017 My Price 10.00

financial statements of Lota

Lota borrowed $15 million - incurring transaction costs of $100,000 to obtain the loan. The terms of the loan are that the entity pays interest of $900,000 on 31 December each year and the loan is repayable at a substantial premium on 31 December 2015. The effective annual interest rate associated with this loan is 10%. The annual interest was paid on 31 December 2012 and Lota intends to retain the loan until its repayment date. The fair value of the loan on 31 December 2012 was 16 million.

 

Required: Show how the financial instruments will be treated in the financial statements of Lota for the year ended 31 December 2012.

Answers

CourseLover
(12)
Status NEW Posted 09 Dec 2017 08:12 AM My Price 10.00

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